What are cryptocurrency whales up to these days? They’re holding on to some big-name coins like Ethereum (ETH), Polygon (MATIC), and Fantom (FTM), waiting for any incremental price increases that could help counter the significant losses they’ve had in the past few months. But this July, whales are also gearing to put their money in a new crypto project called Uniglo (GLO), which is making analyst heads turn.
Uniglo (GLO)
Uniglo is a new Ethereum-based project that provides a novel social currency. This project offers a solution to price fluctuations and bear markets – problems that investors are becoming all too familiar with nowadays. Uniglo essentially offers a strategy to safeguard the value of its token over time regardless of market conditions. As expected, whales are keen to benefit from this solution.
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Ethereum (ETH)
ETH whales are those holding between 1,000 to 100,000 ETH. Whales are a mainstay of Ethereum. But currently, they are accumulating more ETH coins because of the upcoming merge in which Ethereum will transition from a Proof-of-Work to a Proof-of-Stake consensus mechanism. This shift is expected to increase the speed and lower the cost of transactions on Ethereum. As Uniglo is Ethereum-based, ETH whales are also interested in complementing their ETH gains with GLO gains.
Polygon (MATIC)
Similar to Uniglo, Polygon is also built on Ethereum. Specifically, it is an Ethereum layer 2 scaling solution. Whales on Polygon are those who hold between 10,000 and 10,000,000 MATIC tokens. Last June, whales were seen slowly accumulating more MATIC coins, adding approximately 8.7% to their respective holdings. This accumulation caused a 20% surge in the token’s price. As Uniglo will also create a community vault on Polygon, MATIC whales see the benefit of acquiring GLO tokens during presale.
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Fantom (FTM)
Fantom is another crypto project frequented by whales. It is one of the fastest and most scalable decentralized platforms in the market, making FTM one of best-performing altcoins in the industry. During the first couple of weeks of May, investors feared a possible collapse, as an FTM whale fully liquidated his/her holdings. Despite the whale’s move, however, the price of FTM managed to grow 20% in the subsequent weeks. At the start of July, the platform saw some ETH whales accumulating about 26,200 FTM tokens, which amounted to $6,726.
Final thought
Many Ethereum (ETH), Polygon (MATIC), and Fantom (FTM) whales have been around the block for a long time and recognize when it’s time to put their money in a new digital currency. As they look to Uniglo, other investors would be benefited from following their trail. Uniglo is still in its first phase of presale. Prospective investors can adopt this crypto early before it publicly launches on October 18.
Find Out More Here:
Join Presale: https://presale.uniglo.io/register
